Do You Qualify For the Money Merge Account?
30-Year Mortgage
Because 30-year mortgages charge so much interest over the life of the loan,
particularly during the early years of the loan, these loans are ideal to
benefit from the Money Merge Account program.
15-Year Mortgage
15-year mortgages aren't as bad as 30-year loans but they also charge a lot
of interest over the life of the loan. If you have one of these loans you
should consider using the Money Merge Account program to save thousands of
dollars in interest costs over the life of your loan.
Interest Only
Mortgage
Interest-Only Mortgages have become pretty popular in recent years, particularly
in markets where there has been significant value appreciation. However, these
loans are not designed to pay of a dime of the principle. You can pay on these
loans for years and you will still owe just as much as the day you signed
the loan documents. If you have this type of mortgage you should definitely
take advantage of the Money Merge Account program to eliminate the debt on
your home.
Negative Amortization
Loans
Recently, many people have opted to get mortgage loans that have the potential
of actually increasing the principle owed on their mortgage if they don't
pay enough to keep the principle going down. This has happened all too often
for people who have seen the interest rates go up month after month and who
have not had the income to keep up with these increases. The Money Merge Account
program can get things back on track for people with this type of loan.
Pay Option ARMs
Pay Option Adjustable Rate Mortgages are another type of loan that have the
potential of actually increasing the principle owed on a mortgage. This has
happened all too often for people who have seen the interest rates go up month
after month and who have not had the income to keep up with these increases.
Pay Option ARMs allow borrowers to pay minimum payments that don't even cover
the repayment of interest due on the loan. This causes the principle to actually
go up on these loans. Money Merge Account program can get things back on track
for people with this type of loan.
Provided
by an Independent Software Agent of United First Financial
